QUINCY, IL — Titan International President and CEO Maurice Taylor Jr. announced this week that he intends to sell up to 40,000 shares of Titan International common stock owned by the Maurice and Michelle Taylor Foundation. The Foundation funds are primarily used to award college scholarships to children of Titan employees.
In addition, the Taylors plan to sell up to 450,000 shares of Titan stock held in their name to pay personal financial obligations. A Form 4 has been filed for 180,600 shares sold.
“I personally have not sold any Titan stock for more than seven years, however, in March 2004, the Foundation sold 10,000 shares at approximately $5 per share and since then the stock price has doubled,” said Taylor “I have obligations for the use of these funds. After these transactions, I will still hold approximately 1.8 million shares, including over 300,000 in stock options, so I hope the price doubles again.”
Titan International is a supplier of wheels, tires and assemblies for off-highway equipment used in agriculture, earthmoving/construction and consumer markets.
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